Which is the best software (Least expensive option) to use for bookkeeping, taking into consideration having to hand the information over to an accountant (so would really need to be in a format that he can easily access and use).
A few things to consider really, and bearing in mind least expensive is more than just the price of the software but also ongoing costs, installations, support, updated, transfer/exchange of data, additional licensing and so on.
Unless the client is rather small, or has simple/few transactions I'd probably not recommend a spreadsheet. Although it might be up to the job the benefits of alternatives are far greater.
The client and accountant's preferences or existing choices may also need to be taken into account - unless you are looking for a general solution for various clients and to be handed over to a 'yet to be known' accountant.
Microsoft Accounting is free although it doesn't seem to work well on all computers - would need to test and see that it works ok for you.
Plenty here use Sage from what I gather (we do a lot too), and it's ok but can be more expensive, especially if clients need it too.
We have an exclusive partner offer from e-conomic which means you can have a free subscription for your own use - as well as other benefits. It's an online package, and probably the best we've seen so far. A big plus with this one is access is free for accountants and bookkeepers with just the client company users and extras paid for.
A bonus with online software is concurrent access (you, accountant and client can all access at the same time), updates are automatic, low/no upfront costs (usually though some have clubs/programmes to join), and backups are regular.
It really depends on your personal preferences, the clients you deal with and your own situation overall.
I have worked with Sage - but much prefer VT - much easier. You can download a free version from their Website.
VT was actually recommended to me by the accountant I work with. If the accountant also downloads the programme, you just E mail any updates to them when they need to see the accounts.
It all depends on who is going to own the software - if you are creating the books to make your life easier, then VT is the way to go, but if the client wants to own the software, be supported, possibly payroll etc then I would recommend Sage to them and they would host the system on their computers.
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Im trying to start a small business as a book keeper but I only have sage instant accountants , whcih I trained with, at the moment. An accountant I spoke to says it wont be enough for more than one client,( if I ever get one!). He recommneded using Excel.
I see you recommend Microsoft Accounting, would that be something you would advise for me?
I would say have a look at VT Transaction + as well as microsoft accounts.
I suppose it all comes down to you, and what you feel happiest using.
Unless the client has been using a certain software and wants you to continue with it (in which case I would suggest they buy it) then your really free to choose. What your client needs is their books kept properly and the information available to the accountant.
I know some accountants like a digital copy, but a trail balance is a trial balance, and your printed trial balance is better to the accountant than the box of papers they would likely otherwise get.
The views expressed in this post are my own personal (HRA protected) views, and are not representative of any organisation I have any involvement with.
